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Dec 26, 2012
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despite the fact we've had all these worries, whether it be the fiscal cliff, the election, the situation in europe. nonetheless, gold has just not been the safe haven. this morning, it was industrial metals that got a boost as we saw rallies in asia on hopes that maybe this new regime in china is going to be spending more helping to prop up the property department there, housing, than might mean more demand for industrial metals. copper today, the standout in part because of that. also, a different note, the s.e.c. ahead of the holiday delayed a decision on the proposed etf, according to the "wall street journal," the etf would hold twice as much copper in terms of holdings compared to the jpmorgan holding approved on december 14th. >> i think 182,000 physical tons they could take off the market. we'll revisit it later. for a moment, thank you. bob pisani is joining me on the floor of the nyse. the big discussion is about retail and what the figures from mastercard tell us. >> i just want to point out that the dow industrials dropped in the middle of the day. there had been some concern
despite the fact we've had all these worries, whether it be the fiscal cliff, the election, the situation in europe. nonetheless, gold has just not been the safe haven. this morning, it was industrial metals that got a boost as we saw rallies in asia on hopes that maybe this new regime in china is going to be spending more helping to prop up the property department there, housing, than might mean more demand for industrial metals. copper today, the standout in part because of that. also, a...
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Dec 28, 2012
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they get elected by giving out candy. >> i agree. i think that's why we need somebody to come along, a type for fiscal policy this year in the next coming years to make the hard choices that aren't popular that will put us on a sustainable path going forward. >> craig and andy, thank you both very much. have a happy new year. >> you too. >> same to you. >>> all of this what we learned from our past is what exactly? let us check in with rick santelli at the cme. before we get into that, you and i were going back and forth in e-mail about $250,000. what people don't seem to get is 250 under clinton is not 250 today. it will capture about twice as many taxpayers. you can't make the historical reference. >> no, you're exactly right. you know, when the government deals with their public pensions and their unions, do they ever forget to inflation adjust? of course not. but look at two times they failed to. when we hear going back to the clinton tax rate of 39.6 in '93. 250 grand threshold in today's dollars will be about $165,000. a 35% mi
they get elected by giving out candy. >> i agree. i think that's why we need somebody to come along, a type for fiscal policy this year in the next coming years to make the hard choices that aren't popular that will put us on a sustainable path going forward. >> craig and andy, thank you both very much. have a happy new year. >> you too. >> same to you. >>> all of this what we learned from our past is what exactly? let us check in with rick santelli at the cme....
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Dec 24, 2012
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it is just -- we talk about elected leaders to make decisions, to build confidence. not just for the individual consumer but for corporations. i mean, my gosh. this is why we elected people. we should not be in this situation. >> no leadership. from an executive standpoint, how are you going to deal with that? there is a story out there today that it is too late for employers to withhold the proper amount of income taxes for 2012 levels because the irs hasn't released the 2013 table. so as an employer, what are you going to do in terms of taking income taxes out of your employee's paychecks. >> we're not changing the level -- >> you're sticking to 2012 levels? >> we are. i'm hopeful there will be some decision bit end of the year. but if anything it is small decision, bigger decisions will have to be made in 2013. that's again what is so disappointing. by the way, there is also this issue with supplemental appropriations going through with superstorm sandy. $64 bill worthion worth of aid. after ska trina this was approved by the house. we are looking for this before
it is just -- we talk about elected leaders to make decisions, to build confidence. not just for the individual consumer but for corporations. i mean, my gosh. this is why we elected people. we should not be in this situation. >> no leadership. from an executive standpoint, how are you going to deal with that? there is a story out there today that it is too late for employers to withhold the proper amount of income taxes for 2012 levels because the irs hasn't released the 2013 table. so...
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Dec 28, 2012
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and a lot of them say, eamon, i've been elected to be a check on the president and that's what a lot of this is about. >> right. this is deeply held, fundamental belief on both sides and there's a huge chasm between the two sides on these issues. and somebody's going to be a loser here if there's a deal. somebody's going to be perceived as having gotten rolled and neither side wants to be the party who got rolled here. i think both sides are looking at if fiscal cliff right now and saying, well, we could go over this thing. it wouldn't be the end of the world and that's a very different view in washington than it is on wall street. i can tell you that. >> eamon, thanks. i know you've got a long day ahead, a long afternoon as well. eamon javers in washington. >> isn't it unbelievable. you have this huge, looming problem, i'll wait until later this afternoon to deal with it. >> and the whole sequester was a way to deal with this later. and corker, i think, on some of the morning shows this morning, senator corker said the worst case today would be to set up another later deadline that
and a lot of them say, eamon, i've been elected to be a check on the president and that's what a lot of this is about. >> right. this is deeply held, fundamental belief on both sides and there's a huge chasm between the two sides on these issues. and somebody's going to be a loser here if there's a deal. somebody's going to be perceived as having gotten rolled and neither side wants to be the party who got rolled here. i think both sides are looking at if fiscal cliff right now and...
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Dec 27, 2012
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he won the election. he now has the right, morally and politically to force his version of a deal upon people. we also have to consider the dynamics of congress. you know, boehner is going to be coming up to a speaker election january 3rd. all it will require is 17 republicans to overthrow him if they don't support him. that is a tiny number. you could argue this is inherently unstable. you could argue that maybe we're going to get it. some talk about bringing him an outside speaker like john huntsman. and i don't see that happening. but you get a sense of anything could happen in this system. >> and maybe it's a benefit. maybe in the long-term, but certainly right now there does seem to be a sense that it is a small group of people holding the rest of the process hostage. >> oh, yes. i'm trying to find something good to say about something. because the alternative is china, you know? i'd rather have a -- >> is that the case, though? is there not an alternative that you see and other examples as you look
he won the election. he now has the right, morally and politically to force his version of a deal upon people. we also have to consider the dynamics of congress. you know, boehner is going to be coming up to a speaker election january 3rd. all it will require is 17 republicans to overthrow him if they don't support him. that is a tiny number. you could argue this is inherently unstable. you could argue that maybe we're going to get it. some talk about bringing him an outside speaker like john...
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Dec 26, 2012
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the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going on a headwind for the stock market? >> i think it will be. if the taxes go up, i think that's something that hurts consumer confidence. you've seen the retail sales in the last part of this season here, have sold off, and many people have said it's because of the fiscal cliff. >> kind of depressing when you say it's a nothing market between now and the end of 2013. how do you make money, if you want to see it's going to be a -- >> he knows rhyme going to say buy apple. it's up 20%, up 50% and some off a little bit. if it sells off, you'll have nice dividend stocks like ant anti--sizer, the subplatform of all of the smartphones. >> there's way to m
the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going on a headwind for the stock market? >> i think...
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Dec 27, 2012
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in 2010 and then re-elected, a lot of them did get re-elected, and supposedly don't care if they get re-elected again, would you use the debt eagle? once we go through this and the cliff is no longer, would you play hardball with the debt ceiling knowing that you're going to be blamed for that and lose your seat in 2014? >> it would depend on the promises that i made to get elected. what we have is a roomful of people who made promises that probably can't be kept. and they're worried about going home, and giving a speech in a high school auditorium and having somebody stand up in the back and say, hey, you said you wouldn't raise taxes under any circumstances. so that's an impossible promise to keep in today's world. >> you think it still works, though, if this all happens in january? >> sure. >> you think that then they can say they kept the promise? >> sure. i mean, look -- >> you don't think the public sees through that? >> i wish i 0 could say that i thought the public sees through. listen, the market doesn't seem to be too bothered by the fact that it seems at this point to be i
in 2010 and then re-elected, a lot of them did get re-elected, and supposedly don't care if they get re-elected again, would you use the debt eagle? once we go through this and the cliff is no longer, would you play hardball with the debt ceiling knowing that you're going to be blamed for that and lose your seat in 2014? >> it would depend on the promises that i made to get elected. what we have is a roomful of people who made promises that probably can't be kept. and they're worried...
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Dec 26, 2012
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not about the election. the election is over. it's about spending cuts, really what 2010 was about. i think that's where the negotiations go in the next couple of days. >> you think about the polling and how this polls and issues david was talking about and common ground and who gets blame going over the fiscal cliff, how do you see it? >> i think that's the wrong question to ask. we're not in a political season. we either need the country to function or we don't. >> we will be. in 12 months from now, we'll be right back it an again. whatever happens over the next three weeks will be part of some campaign 12 months from now. >> i would rather worry about principle than politics and the republican party has very few principles left. one not to raise tax and the other extract serious spending cuts. you have a bunch of democrats we lost the whole point, you have the democratic party for 10 years, they have been willing to go for tax cuts and they voted for that. >> that's factually wrong. in any time you have an individual -- they didn't vote for tax cuts under bush and your president
not about the election. the election is over. it's about spending cuts, really what 2010 was about. i think that's where the negotiations go in the next couple of days. >> you think about the polling and how this polls and issues david was talking about and common ground and who gets blame going over the fiscal cliff, how do you see it? >> i think that's the wrong question to ask. we're not in a political season. we either need the country to function or we don't. >> we will...
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Dec 24, 2012
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elections have consequences. i won. it's not a nice tack to the center where i'm going to govern for all of you. are you coming back? >> i'm going to. >> the jacket is coming off, though, right? >> christmas eve and i'm celebrating. as you know, we had the tree going this weekend with the lights on. >> that's so nice. there's one other thing i sought on that thing over the weekend that you brought us that i was going do -- oh,no. did you see mitt romney did not want to run? >> i saw that. that was in the boston globe. that was a great piece worth reading. then he found out how bad things were going on his ipad. >> yeah. but maybe he didn't want to run because there were times i really kind of thought it looked like he didn't want to run. >> yeah, but towards the end, i thought he did. >> he tried hard. thanks. >> okay. >> come over here. >>> in other news, a dock worker strike on the atlantic and coast could be just days away. port operators have been negotiating with the long shoreman association since march. but the t
elections have consequences. i won. it's not a nice tack to the center where i'm going to govern for all of you. are you coming back? >> i'm going to. >> the jacket is coming off, though, right? >> christmas eve and i'm celebrating. as you know, we had the tree going this weekend with the lights on. >> that's so nice. there's one other thing i sought on that thing over the weekend that you brought us that i was going do -- oh,no. did you see mitt romney did not want to...
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Dec 27, 2012
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if merkel gets re-elected, she will be a major outlier. the general rule of thumb for almost all politician, you never survive a debt crisis. germany doesn't have a debt crisis, the rest of europe. she may survive compared to every other government. >> it will be fascinating to see if she wins how her policy changes with less political risk. >> once you don't have to battle the god of re-election, everything changes. >> as we have seen in this country. >>> a winter storm slamming the east coast and impacting the northeast, after the break. >>> the latest place banks are turning to in the hunt for yield. am [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older, may have low t. so talk to your doctor about low t. hey, michael! [ male announcer ] and step out of the shadows. hi! how are you? [ male announcer ] learn more
if merkel gets re-elected, she will be a major outlier. the general rule of thumb for almost all politician, you never survive a debt crisis. germany doesn't have a debt crisis, the rest of europe. she may survive compared to every other government. >> it will be fascinating to see if she wins how her policy changes with less political risk. >> once you don't have to battle the god of re-election, everything changes. >> as we have seen in this country. >>> a winter...
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Dec 26, 2012
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and since election day, the markets have been fighting worries over the fiscal cliff. in the meantime, we'll take a short break. back in a minute. >>> we are glad to welcome back simon hobbs to the program. he's going to tell us what's coming up at 10:00. >> always good to be back, carl. welcome, everybody. we're going to talk particularly about retail. do we have a problem in retail, and what exactly is it. the ceo of the national retail federation will join us live. we're going to break down specifically whether it's the sandy effect or luxury goods effect. one you might want to sell on. the other thing we talk about is house prices. clearly this morning up over 4% year over year, in the top 20 cities. when will the jobs come back in construction. will that be the major theme for 2013. back to you. >> simon, see you in a couple. the dating scene is hitting a fiscal cliff of its own. an article in the noew york tims may not matter if your credit score is less than attractive. the "times" interviewed more than 50 daters around the u.s. all under 40 years old. what is t
and since election day, the markets have been fighting worries over the fiscal cliff. in the meantime, we'll take a short break. back in a minute. >>> we are glad to welcome back simon hobbs to the program. he's going to tell us what's coming up at 10:00. >> always good to be back, carl. welcome, everybody. we're going to talk particularly about retail. do we have a problem in retail, and what exactly is it. the ceo of the national retail federation will join us live. we're going...